progress energy 05/14/08

Bill Johnson, Chairman, CEO, and President of Progress Energy, presented at the company's annual shareholder meeting. He discussed Progress Energy's history of over 100 years in business, highlights from 2007 including financial and operational achievements as well as sustainability recognition, strategic focus on its two electric utility subsidiaries serving North Carolina and Florida. Johnson also outlined Progress Energy's balanced strategy to address issues like climate change, demand growth, and costs while maintaining reliability and affordability. He discussed governance practices and executive compensation policies.